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BALANCE SHEET PRIOR YEAR CURRENT YEAR 52000 CASH 43200 62400 68000 ACCOUNTS RECEIVABLE (NET) INVENTORIES 85200...
ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS...
ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS PURCHASED, ON CASH COSTING 100,000 LAND WAS SOLD FOR 12,000 NET INCOME EARNED IN CURRENT YEAR 44800 DIVIDENDS DECLARED AND EARNED 14400 STOCK WAS ISSUED FOR CASH BALANCE SHEET CURRENT YEAR PRIOR YEAR CASH 52000 43200 ACCOUNTS RECEIVABLE (NET) 62400 68000 INVENTORIES 85200 72000 LAND 0 16000 EQUIPMENT...
03) JOURNALIZE THE FOLLOWING ENTRIES (MARKSEACH) ABC CO. PRUCHASED (LENDED MONEY) TREASURY BONDS WITH THE FOLLOWING...
03) JOURNALIZE THE FOLLOWING ENTRIES (MARKSEACH) ABC CO. PRUCHASED (LENDED MONEY) TREASURY BONDS WITH THE FOLLOWING DETAILS 33.000 INT PMT DATES: 29TH FEB.JOTH AUG BUYING WORTH OF BOND DATE OF BUYING THE BOND COUPON RATE 30TH APRIL 1096 SEMI ANNUAL PMTS SYEAR BOND INTEREST PMT DATES 30TH JAN 30TH JULY CALCULATE SEMI ANNUAL INTEREST PAYMENTS ANNUAL INTEREST PAYMENTS JOURNALIZE THE FOLLOWING ENTRIES C. 30TH APRIL PURCHASE OF BOND D 30TH JULY FIRST INTEREST REVEARNED E DECIST END OF FINANCIAL YEAR...
ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS...
ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE
CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT
OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS
PURCHASED, ON CASH COSTING 100,000 LAND WAS SOLD FOR 12,000 NET
INCOME EARNED IN CURRENT YEAR 44800 DIVIDENDS DECLARED AND EARNED
14400 STOCK WAS ISSUED FOR CASH
04) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER...
net changes in the balance sheet accounts for the year 2019 are shown below. [20] Account:...
net changes in the balance sheet accounts for the year 2019 are shown below. [20] Account: Debit Credit $: | Cash: | 18,400 Accounts receivable gross: 68,000 Allowance for doubtful accounts: 14,000 Inventory: 237,200 Long-term investments: Land: 300,000 Property, Plant and Equipment Gross: 672,000 | Accumulated depreciation: 32,000 Accounts payable: 111,200 Dividends payable: | 128,000 Bonds payable: 832,000 Preferred stock ($50 par): 64,000 | Common stock ($10 par): 156,000 Additional paid-in capital-common: | 223,200 Retained earnings: 87,200 Total: 1,471,600 1,471,600...
Current Year Prior Year $25.000 $17.000 Cash $26.000 $35.000 Accounts receivable, net 565.000 560.000 Inventory $2,000...
Current Year Prior Year $25.000 $17.000 Cash $26.000 $35.000 Accounts receivable, net 565.000 560.000 Inventory $2,000 $1.000 Prepaid expenses $118.000 5113 000 Total current assets $162.750 $187.750 Total long-term assets Total current liabilities $60,000 $90,000 Total long-term liabilities $22.000 $78,000 Common stock, no par. $40,000 $40,000 2,500 shares, market value $96 per share Retained earnings $ 158,750 $92.750 The following information is for Thomas Corporation for the past two years. The current year's current ratio is: O 1.26 7.40 3.42...
13. Current Year Prior Year Cash $25,000 $17.000 $26,000 $35.000 Accounts receivable, net $65,000 $60,000 Inventory...
13.
Current Year Prior Year Cash $25,000 $17.000 $26,000 $35.000 Accounts receivable, net $65,000 $60,000 Inventory $2,000 Prepaid expenses $1.000 Total current assets $118,000 $113,000 Total long-term assets $162,750 $187.750 Total current liabilities $60,000 $90.000 Total long-term liabilities $22,000 $78,000 Common stock, no par $40,000 $40,000 2,500 shares, market value $96 per share Retained earnings $158.750 $92.750 The following information is for Thomas Corporation for the past two years. The current year's current ratio is: 1.26 O 3.42 0 7.40...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 120,000 shares of no par stock) Retained earnings Total liabilities and shareholders equity $ 770,000 310,000 80,000 160,000 280,000 300,000 120,000 100,000 $2,120,000 $ 235,000 275,000 540,000 100,000 480,000 490,000 $ 2, 120,000 Additional information: 1. The...
Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets Cash Accounts receivable, net...
Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,758 81,700 101,685 8,986 261,477 $ 482,606 1 Yr Ago 2 Yrs Ago $ 33,283 $ 33,980 59,411 47,137 78,507 49,231 8,475 3,737 236,364 212,615 $ 416,840 $ 346,700...
Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash 21,000 Accounts receivable, net 210,000...
Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash 21,000 Accounts receivable, net 210,000 Merchandise inventory 320,000 Prepaid expenses 10,000 Total current assets 561,000 Property and equipment, net 870,000 Total assets $1,431,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 260,000 Bonds payable, 11% 390,000 Total liabilities 650,000 Stockholders' equity: Common stock, $5 par value $ 150,000 Retained earnings 631,000 Total stockholders' equity 781,000 Total liabilities and $1,431,000 stockholders' equity Castile Products, Inc. Income Statement For the Year...
The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Blue Water Prime Fish Balance sheet: Cash Accounts receivable (net) Inventory Property &e...
The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Blue Water Prime Fish Balance sheet: Cash Accounts receivable (net) Inventory Property &equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 15%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement: Sales revenue (1/2 on credit) Cost of goods sold Operating expenses Net income Other data: Per share stock price at end of...
03) JOURNALIZE THE FOLLOWING ENTRIES (MARKSEACH) ABC CO. PRUCHASED (LENDED MONEY) TREASURY BONDS WITH THE FOLLOWING DETAILS 33.000 INT PMT DATES: 29TH FEB.JOTH AUG BUYING WORTH OF BOND DATE OF BUYING THE BOND COUPON RATE 30TH APRIL 1096 SEMI ANNUAL PMTS SYEAR BOND INTEREST PMT DATES 30TH JAN 30TH JULY CALCULATE SEMI ANNUAL INTEREST PAYMENTS ANNUAL INTEREST PAYMENTS JOURNALIZE THE FOLLOWING ENTRIES C. 30TH APRIL PURCHASE OF BOND D 30TH JULY FIRST INTEREST REVEARNED E DECIST END OF FINANCIAL YEAR...
ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE
CURRENT AND PRECEDING YEARS ENDED DECEMBER 31, PREPARE A STATEMENT
OF CASH FLOWS USING THE INDIRECT METHOD. ASSUME EQUIPMENT WAS
PURCHASED, ON CASH COSTING 100,000 LAND WAS SOLD FOR 12,000 NET
INCOME EARNED IN CURRENT YEAR 44800 DIVIDENDS DECLARED AND EARNED
14400 STOCK WAS ISSUED FOR CASH
04) (20 MARKS) ON THE BASIS OF THE FOLLOWING DATA FOR BRANCH CO. FOR THE CURRENT AND PRECEDING YEARS ENDED DECEMBER...
net changes in the balance sheet accounts for the year 2019 are shown below. [20] Account: Debit Credit $: | Cash: | 18,400 Accounts receivable gross: 68,000 Allowance for doubtful accounts: 14,000 Inventory: 237,200 Long-term investments: Land: 300,000 Property, Plant and Equipment Gross: 672,000 | Accumulated depreciation: 32,000 Accounts payable: 111,200 Dividends payable: | 128,000 Bonds payable: 832,000 Preferred stock ($50 par): 64,000 | Common stock ($10 par): 156,000 Additional paid-in capital-common: | 223,200 Retained earnings: 87,200 Total: 1,471,600 1,471,600...
Current Year Prior Year $25.000 $17.000 Cash $26.000 $35.000 Accounts receivable, net 565.000 560.000 Inventory $2,000 $1.000 Prepaid expenses $118.000 5113 000 Total current assets $162.750 $187.750 Total long-term assets Total current liabilities $60,000 $90,000 Total long-term liabilities $22.000 $78,000 Common stock, no par. $40,000 $40,000 2,500 shares, market value $96 per share Retained earnings $ 158,750 $92.750 The following information is for Thomas Corporation for the past two years. The current year's current ratio is: O 1.26 7.40 3.42...
13.
Current Year Prior Year Cash $25,000 $17.000 $26,000 $35.000 Accounts receivable, net $65,000 $60,000 Inventory $2,000 Prepaid expenses $1.000 Total current assets $118,000 $113,000 Total long-term assets $162,750 $187.750 Total current liabilities $60,000 $90.000 Total long-term liabilities $22,000 $78,000 Common stock, no par $40,000 $40,000 2,500 shares, market value $96 per share Retained earnings $158.750 $92.750 The following information is for Thomas Corporation for the past two years. The current year's current ratio is: 1.26 O 3.42 0 7.40...
HUBBARD CORPORATION Balance Sheet At December 31, 2021 Assets Buildings Land Cash Accounts receivable (net) Inventory Machinery Patent (net) Investment in equity securities Total assets Liabilities and Shareholders Equity Accounts payable Accumulated depreciation Notes payable Appreciation of inventory Common stock (authorized and issued 120,000 shares of no par stock) Retained earnings Total liabilities and shareholders equity $ 770,000 310,000 80,000 160,000 280,000 300,000 120,000 100,000 $2,120,000 $ 235,000 275,000 540,000 100,000 480,000 490,000 $ 2, 120,000 Additional information: 1. The...
Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,758 81,700 101,685 8,986 261,477 $ 482,606 1 Yr Ago 2 Yrs Ago $ 33,283 $ 33,980 59,411 47,137 78,507 49,231 8,475 3,737 236,364 212,615 $ 416,840 $ 346,700...
Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash 21,000 Accounts receivable, net 210,000 Merchandise inventory 320,000 Prepaid expenses 10,000 Total current assets 561,000 Property and equipment, net 870,000 Total assets $1,431,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 260,000 Bonds payable, 11% 390,000 Total liabilities 650,000 Stockholders' equity: Common stock, $5 par value $ 150,000 Retained earnings 631,000 Total stockholders' equity 781,000 Total liabilities and $1,431,000 stockholders' equity Castile Products, Inc. Income Statement For the Year...
The current year financial statements for Blue Water Company and Prime Fish Company are presented below. Blue Water Prime Fish Balance sheet: Cash Accounts receivable (net) Inventory Property &equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 15%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement: Sales revenue (1/2 on credit) Cost of goods sold Operating expenses Net income Other data: Per share stock price at end of...
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